14. What is the fraction of housing in the assets of a typical US household? (1)

Question

14. What is the fraction of housing in the assets of a typical US household? (1) 10%, (2) 30 %, (3) 50%, (4) 75%. Syntax: if your answer is (1) 10%, enter 1, not (1), and not 10%. Comment: you never need to remember the exact numbers (numbers change, estimates vary, you can always look up), but it is useful to know the approximate magnitudes for qualitative understanding (e.g. 10% and 50% in this question imply very different qualitative characteristics of the housing market) and for back of the envelope calculations w/o looking up every single number.

Explanation / Answer

housing represents the most significant portion of assets of a typical US household'

The Federal Reserve’s 2001 Survey of Consumer Finances reveals that 65.6% of net wealth

based on this answer is closest to 4) 75%

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